A Top Analyst Expects a Massive Price Increase for Solana
An analyst known as Bluntz believes that Solana (SOL), a prominent Ethereum competitor, still has room to grow. Despite some people predicting the end of SOL’s impressive rally, Bluntz thinks the altcoin could reach a new all-time high. He predicts that SOL could see gains of over 257% from its current price.
Bluntz advises investors to buy the dips and embrace SOL as it continues to perform well this cycle. Currently valued at $112, SOL has already surged more than 1,000% since the beginning of the year.
Technical Analysis Supports the Bullish Outlook
Bluntz uses Elliott Wave theory in his analysis, which suggests that an asset experiences a five-wave uptrend followed by an ABC correction before another upward move. When analyzing SOL’s price against both the US dollar and Bitcoin (SOL/BTC), Bluntz sees potential for further gains.
He believes that SOL is in an uptrend and may experience another leg up against both USD and BTC. For the SOL/BTC pair, he expects it to rise above 0.0034 BTC ($144).
Hot Take: SOL Continues to Shine in This Crypto Cycle
Solana (SOL) has been one of the standout performers in the cryptocurrency market this year. With significant gains already achieved, some investors are calling for a top and the end of its rally. However, analyst Bluntz believes there is still plenty of upside potential for SOL. He predicts that the altcoin could reach a new all-time high with gains of over 257%. Bluntz advises investors not to overthink it and to embrace SOL as this cycle’s darling chain. With its impressive performance and ongoing uptrend, SOL continues to attract attention in the crypto space.
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